Novak pointed to the stable situation in the oil market.

The situation on the global oil market is stable, largely due to the actions of the OPEC+ countries. This was announced on December 1 by Alexander Novak, Deputy Prime Minister of the Russian Federation, on the Rossiya-24 TV channel.

"The market situation, as we see it, is stable. This is largely due to the joint actions of the OPEC+ countries. We see some volatility related to geopolitical factors and risks that the market takes into account," he said.

The Deputy Prime Minister added that the demand for oil has now decreased somewhat. According to him, the winter supply balance is maintained due to the decisions taken by OPEC+ countries, which make it possible not to increase supply in the market at the moment.

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On the same day, Alexander Novak said that Russia was interested in cooperation with Saudi Arabia in the field of Fuel and energy complex (fuel and energy complex) technologies, as well as in the development of "difficult" oil, partnership in the field of mineral exploration, hydro and thermal energy. He also called the participation of Russian companies in projects for the construction and modernization of thermal power plants in Saudi Arabia a promising area.

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